Market Pulse - No Reprieve In Sight

The FBM KLCI extended Friday’s decline amid widespread sell-off. In view of the tightening monetary policy in the US going forward and the Covid-19 restrictions in China, investors may remain cautious over the near term; selling pressure could continue on the regional stock exchanges as well as on the local front. Closer to home, investors will be monitoring on the Bank Negara’s interest rate decision and statements on the economic growth outlook scheduled on Wednesday.